Issue of Options

AIM RELEASE 3 December 2009 Discovery Metals Limited Issue of Equity - Options Discovery Metals Limited ("the Company") announces that on 3 December 2009 it issued a total of 9,518,519 unlisted options in the Company as follows: * 1,000,000 options, vesting 24 November 2010, with an exercise price of 35 cents each and an expiry date of 12 December 2011. These options were issued to a Director, Mr Morrice Cordiner and these are the only relevant interests that he holds in the Company. * 8,518,519 options with an exercise price of 30 cents each and an expiry date of 25 May 2010. The issue of these options was approved by shareholders at the Company's Annual General Meeting held on 24 November 2009. Enquiries: For further information contact: Discovery Metals Limited Brad Sampson Managing Director Tel: +617 3218 0200 Fairfax I.S. PLC Ewan Leggat / Laura Littley Tel: +44 (0)20 7598 5368 Conduit PR Jos Simson/Emily Fenton Tel: +44 (0) 20 7429 6603 Mobile: +44 (0)7899 870 450 Further information on the Company is available on its website: ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.